Will Ripple’s 1 Billion XRP Unlock on June 1st Trigger a Sell-Off?
- The value of the unlock is over $2.3 billion
- Ripple typically re-locks a big portion back into escrow shortly after the release, often between 60% and 70%
- The deadline for the SEC’s decision concerning spot XRP ETFs is June 17
Ripple Labs is scheduled to unlock 1 billion XRP tokens from its escrow accounts on June 1, with the of over $2.3 billion based on current market prices.
This event is part of Ripple’s ongoing monthly release cycle (which started in 2017), whose goal is to manage the distribution of XRP in a controlled manner.
Ripple’s XRP Escrow System: Monthly Unlocks and Re-locking Explained
Ripple’s escrow system was designed to provide predictability and transparency in XRP’s supply by releasing 1 billion XRP each month. However, Ripple typically re-locks a big portion back into escrow shortly after the release, often between 60% and 70%. The remaining tokens are utilized for operational expenses, ecosystem investments, and liquidity provisioning.
There were some changes in recent times where Ripple adjusted its approach by pre-locking a portion of XRP before the scheduled monthly release. For instance, this month, Ripple pre-locked 700…
The post Will Ripple’s 1 Billion XRP Unlock on June 1st Trigger a Sell-Off? appeared first on Coin Edition.
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Will Ripple’s 1 Billion XRP Unlock on June 1st Trigger a Sell-Off?
- The value of the unlock is over $2.3 billion
- Ripple typically re-locks a big portion back into escrow shortly after the release, often between 60% and 70%
- The deadline for the SEC’s decision concerning spot XRP ETFs is June 17
Ripple Labs is scheduled to unlock 1 billion XRP tokens from its escrow accounts on June 1, with the of over $2.3 billion based on current market prices.
This event is part of Ripple’s ongoing monthly release cycle (which started in 2017), whose goal is to manage the distribution of XRP in a controlled manner.
Ripple’s XRP Escrow System: Monthly Unlocks and Re-locking Explained
Ripple’s escrow system was designed to provide predictability and transparency in XRP’s supply by releasing 1 billion XRP each month. However, Ripple typically re-locks a big portion back into escrow shortly after the release, often between 60% and 70%. The remaining tokens are utilized for operational expenses, ecosystem investments, and liquidity provisioning.
There were some changes in recent times where Ripple adjusted its approach by pre-locking a portion of XRP before the scheduled monthly release. For instance, this month, Ripple pre-locked 700…
The post Will Ripple’s 1 Billion XRP Unlock on June 1st Trigger a Sell-Off? appeared first on Coin Edition.
Read More
XRP Breaks Out of Bullish Flag Pattern, Eyes $11 Price Target